Momo is the only Vietnamese representative in the global Top 50 Fintech, Finhay is the first time in the Top 50 emerging companies.
- Tram Ho
Australian Venture Capital Fund H2 Ventures and KPMG Global Fintech have just announced the 6th annual list of Top 100 global fintech. According to this list, Asia Pacific (including Australia and New Zealand) has 42 companies, 36 companies from the UK and EMEA (Europe, the Middle East and Africa), 22 companies from the Americas.
7 of the Asian fintechs in the top 10, including Ant Financial, JD Digits, Du Xiaoman Financial (China), Grab (Singapore), Go Jek (Indonesia), Paytm, Ola (India), show the Asia’s growing dominance in the global fintech market.
In 2018, MoMo Wallet was in the Top 50 Emerging Companies group (Emerging 50 Rising Stars), this year, MoMo Wallet was in the Top 50 Leading Companies group (Top 50 Established Companies) up 48 places from 84 ( in 2018) to 36 (2019). This promotion is based on criteria such as Innovation activities of products and services; Ability to raise capital; Size and Coverage …
CEO Momo Pham Thanh Duc
About MoMo Wallet (on page 47 of the report), Fintech100 in 2019 said: ” MoMo is the largest e-wallet, and has the fastest growth rate among the payment service providers in Vietnam. Nam. Provide a variety of daily payment services with user growth and transaction value up to 15% / month “.
Data updated in early November 2019, MoMo has nearly 13 million app users (iOS and Android). Currently, MoMo has more than 12,000 payment partners, 100,000 payment points nationwide and directly links 23 major banks in Vietnam and 43 domestic banks (via Napas portal) and international cards …
Momo has received investment from Warbug Pincus (scale not disclosed but said it is the biggest number pouring into Fintech in Vietnam), Goldman Sachs 3 million USD, Standard Chartered Private Equity 25 million USD).
Top 50 Emerging in Top100 Global Fintech Innovators
In addition to MoMo, another Vietnamese Fintech, Finhay, also entered the Top 50 emerging companies for the first time on the list of the World’s Top 100 Financial-Technology Companies this year. Finhay is a smart savings app that helps customers plan and save for their goals from only USD 3 (VND 50,000). Finhay helps optimize idle capital by creating investment portfolios including fund certificates of investment funds in Vietnam depending on the risk appetite of each client.
As of October 2019, Finhay has reached 200,000 users.
Founder Nghiem Xuan Huy of Finhay
Finhay was the “chicken house” of H2 Ventures when this fund together with Insignia Ventures poured capital into Finhay.
Also according to Fintech100 in 2019, the flow of investment capital into Fintech companies on the list this year reached more than 70 billion US dollars, up 35% over the previous year.
In addition to introducing companies in the ranking list, Fintech100 in 2019 also provides an overview of the Fintech market. ” The fierce competition of the industries has shown clearly when in the list of annual rankings. This shows a sharp decline in payment companies from 34 companies (in 2018) to 27 companies (in 2019). Only companies with real potential can sustain. However, the increase in the number of Insurance companies, Wealth companies, Lending companies and a number of new industries in the Fintech sector has helped the company. The overall picture of the market is diverse, richer and more options for investors . ”
Source : Trí Thức Trẻ